VET Price is one of the many tokens that are now in demand mostly because of its special features and usefulness, the cryptocurrency VET is supported by the VeChain platform.
The native token of the VeChainThos platform is called VET money. Network value transfer is where this money is most commonly used, only until VeChain successfully transitioned to its own blockchain was the token initially operated on the Ethereum network. After a rebranding in 2018. The VEN blockchain was replaced by the VeChainThor blockchain, or VET as we currently know it.
VeChain was founded in 2015. The company was started by Sunny Lu, a former chief technology officer for Louis Vuitton China.
Based on the VeChainThor network, the cryptocurrency VeChain (VET) is a native token of that system.
It blends decentralized and centralized financing and is mostly utilized by corporations in use. Cases like tracking products and data to boost productivity in the logistics and supply chain sector for the corporations employing it in these use cases, also make swift or immediate settlements and payments possible.
VET Price
According to the most recent data, VeChain is now rated No. 37 overall in the cryptocurrency ecosystem and is trading at $0.02 VeChain has a market valuation of 72,714,516,834 VET and a $1,355,089,419.66 circulating supply.
The VeChain cryptocurrency VET entered the market at a price of $0.24 on August 22, 2017. Its all-time low price, which was set on March 13, 2020, was $0.001678. It traded for less than $0.02 for the first three years.
The cryptocurrency’s price broke through the $0.0082 barrier in June 2020. Soared to $0.022 in July 2020, and finished the year at $0.0220.
A significant pump for VET was switched on in December 2020, and the price of the coin fluctuated between $0.093 in March 2021 and $0.14 in April 202, before reaching a peak of $0.2782 in April 2021.
VeChain’s live price is currently $ 0.0192226 per (VET/USD), and its market capitalization is $ 1.40B USD. Daily trading volume of $39.00M USD. The VET to USD exchange rate is updated in real-time, VeChain now has 72.71B in circulation but has lost 4.42% during the last day.
VET Price Analysis:
Based on data from July 8, 2023, at 14:34. The general attitude for the VeChain price forecast is negative. With 26 bearish indications and 4 positive signals being indicated by technical analysis indicators.
- The cryptocurrency’s current value has grown by $0.00037 during the last 24 hours.
- VET Price has been on a strong upward trend over the past week, rising by 3.02%.
- VeChain has recently demonstrated very high potential, therefore now would be a good time to get in and make an investment.
- The price of VET climbed by 1.56% over the past month. Bringing its current price up by an enormous average of $0.00029.
- The currency can now turn into a reliable asset if it continues to increase due to its unexpected rise.
EMA 200
Currently, the VET Price is below the 200-day simple moving average (SMA). The 200-day SMA has been signaling SELL for the previous 68 days from April 30, 2023.
The price of VeChain has remained below the 50-day SMA since June 28, 2023, and this indicator has been displaying a SELL signal for the past nine days.
The most recent Death Cross on the Bitcoin market occurred on May 29, 2023, or 40 days ago. The most recent Golden Cross occurred 137 days ago, on February 21, 2023.
The 200-day SMA for VeChain is expected to rise during the next month and hit $ 0.021470 on August 7th, 2023, according to our technical indicators. VeChain’s 50-Day SMA is expected to hit $0.018466 by August 7th, 2023.
The Relative Strength Index (RSI) momentum oscillator is a popular tool for assessing if a cryptocurrency is oversold (below 30) or overbought (above 70). The RSI reading of 52.35 indicates that the VET market is now in a neutral position.
Pivot
VeChain has support levels of $0.018389, $0.018135, and $0.017956, with the latter being the strongest, based on the conventional pivot point (P1) for today, which is priced at $0.018568. VeChain has resistance at $ 0.018821, $ 0.019000, and $ 0.019254.
The most current VeChain price prediction we have is that on July 13, 2023, VeChain will be worth $0.016970, a decline of -9.56%. The current mood is bearish, as shown by our technical indicators, and the Fear & Greed Index reading is 58 (Greed). VeChain earned 16/30 (53%) green days and 10.93% price volatility over the past 30 days. According to our VeChain forecast, now is not the time to buy VeChain.
Based on data from July 8, 2023, at 14:34, technical analysis indicators have detected 26 bearish indications and 4 positive signals, indicating an overall unfavorable attitude toward the VeChain price projection.
Prediction
In 2022, VeChain VET is expected to trade at $0.035, a price it has generally maintained. According to experts, the coin’s value might reach $0.0729 in 2025. Trading Beasts predicted the price of VeChain. The lowest VeChain price estimate from DigitalCoinPrice is $0.048 while Gov Capital predicts the highest price at $0.5497.
Price Forecast for VeChain in 2023: The minimal cost of VeChain will be $0.023, based on a technical study of pricing anticipated for 2023. The price of VET might rise to a maximum of $0.027. The predicted average trading price is $0.023.
ROI potential: 42.1%
Price forecast for vechain in 2024 According to a review of VeChain pricing from prior years, it is predicted that the cryptocurrency’s minimum price in 2024 would be roughly $0.033. Around $0.039 is the maximum projected VET price. In 2024, the trade price may be $0.034 on average.
Conclusion
The VeChain price has a positive correlation coefficient of 0.620 with the top 10 cryptocurrencies by market capitalization. Excluding Tether (USDT), and a positive correlation coefficient of 0.582 with the top 100 coins by market capitalization, excluding all stablecoins.
